The major indexes slipped lower as investors struggle to digest a slew of largely underwhelming earnings reports — and more in Tuesday’s stock market recap.
Verizon Communications Inc. (NYSE: VZ) posted mixed results for the fourth quarter. Earnings and revenue met consensus estimates but forward earnings missed the Refinitiv consensus estimate, causing shares to fall 1.5% in premarket trading.
Johnson & Johnson (NYSE: JNJ) also reported mixed results, beating earnings estimates but missing on revenue. The company’s full-year earnings outlook was higher than expected, and shares rose almost 1% premarket.
And Lockheed Martin Corp. (NYSE: LMT) proved to be a bright spot amid recent reports, beating earnings and revenue estimates, causing the stock to gain 1.5%.
In this morning’s stock market recap video, I’ll discuss why I’m skeptical that the current tech rally will continue… an update on the bond market and Federal Reserve data… which earnings I’m watching… what market internals are saying about the Energy sector… which sector is showing the most vulnerability, and which is oversold right now… why the Dow gained six times less than the Nasdaq this year… plus which stocks I’m going long on right now, and which ones I’m fading!
Don’t forget to like, subscribe and leave your comments and questions on our YouTube videos — we will respond!
P.S. 2023 Is About to Get Bumpy
Joy of the Trade’s Jeff Zananiri has some bold claims to his name…
He helped his old hedge fund go 10 straight years without a single losing quarter…
Once bagged over $1 million in just 30 minutes for his old fund…
And back in May 2022 in the peak of the housing crisis, Jeff let his readers know that his research was pointing to a 20%-30% drop in home prices.
Sure enough, sales followed his call and dropped to the lowest levels since 2015.
It’s safe to say he’s seen a lot of market mayhem throughout his career. And Jeff just uncovered a major “Financial Hurricane” set to hit in 2023…
If you’re not prepared for the storm ahead, you could get whisked away.
But Jeff has a game plan — a 90-day market mission to get traders out of the dust…
And he’s revealing it LIVE at 10 a.m. ET today, Jan. 24!
Unlock Your Battle Plan Before the Event Here
P.P.S. When it comes to trading, every second counts. And in choppy markets like these, often driven by headlines, stocks can make big moves in a flash.
That’s why I want you to get my latest trading ideas and market updates as fast as possible. So I’m rolling out an all-new option for my students to receive trade alerts with Telegram!
Telegram allows me to get trade ideas, videos and watchlists to you in a matter of seconds.
Check out this short article we put together with instructions on how to download telegram and access my private channel. Go here to get the details.
On Tuesdays, I’ll detail the strongest and weakest sectors in the entire market. I’ll tell you exactly where I’d put my money and go long, and which ones I’d avoid or even short. Using my proprietary momentum indicator, you’ll get actionable ideas on every market sector, every single Tuesday.
Need help understanding some basics that we discuss frequently? Check out some of our educational pieces to help get yourself up to speed! Have a question or a topic you’d like us to explain in a future article? Send your thoughts to email@example.com!
- What Is the Dow and How Does It Work?
- A Beginner’s Guide to the Nasdaq and How to Trade It
- What Companies Make up the S&P 500 and How Can I Trade It?
- What Is the VIX? Understanding Stock Market Volatility
- A Beginner’s Guide to Stock Sector Analysis and Relative Strength
- How to Pick Winning Stocks With Simple Market Analysis Tools
Check back each morning for the Roger Scott newsletter and the most important news and numbers in the WealthPress stock market recap.